FE Report
Finance Adviser Mirza AB Azizul Islam Thursday said the government has waived Value Added Tax (VAT) on a number of items in order to enable people in general to access cheaper medical service and also to help people suffering from hearing impairment.
He proposed VAT exemption for Insulin, First Aid Box, Hearing Aid, Shadow-less Operation Lamps at import and production levels.
Finance Adviser also proposed VAT exemption for fire extinguishing equipment to encourage installation of such facility in industrial and commercial organisations at both import and production level.
On the other hand, in order to widen the VAT net, the Finance Adviser proposed to bring Immigration Advisers within this purview.
He also proposed to withdraw existing VAT exemption facility from ornamental fish and consultancy fees charged by specialised doctors, lawyers and dental clinics.
"I also propose to impose VAT on the basis of truncated base value of the coaching centers, English medium schools, private medical and engineering colleges and private universities at the rate of 4.5 percent," he said at the budget speech.
Besides this, Finance Adviser proposed to extend the same truncated base value facility to photo labs, courier service and air-conditioned bus service.
VAT waived on a number of items
FE Team | Published: June 08, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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